China stocks edge up on policy easing hopes

Link Real Estate Investment Trust

05/09/2024 10:17

(Updates to market close)
    By Summer Zhen
       HONG KONG, Sept 5 (Reuters) - China stocks edged up
while Hong Kong markets recouped most losses by Thursday's
close, as the Chinese central bank sent signals of further
policy easing, bolstering market sentiment. 
        China still sees some room to lower the amount of cash
that banks must hold as 
    reserves
    , said Zou Lan, head of the People's Bank of China's
monetary policy department, adding that the lender would
continue to implement policies to support the economic recovery.
  
        At the close, the Shanghai Composite index  .SSEC  was
up 0.14% at 2,788.31.
 
** The blue-chip CSI300 index  .CSI300  was up 0.17%, with its
financial sector sub-index  .CSI300FS   higher by 0.55%, the
consumer staples sector  .CSI000912  up 0.49%, the real estate
index  .CSI000952  up 2.06% and the healthcare sub-index
 .CSI300HC  up 0.85%.
 
** The smaller Shenzhen index  .SZSC  ended up 0.52% and the
start-up board ChiNext Composite index  .CNT  was higher by
0.649%.
 
** In Hong Kong, the Hang Seng index  .HSI   was down 13.04
points or 0.07% at 17,444.30. The Hang Seng China Enterprises
index  .HSCE  fell 0.46% to 6,105.54.
** The sub-index of the Hang Seng tracking energy shares
 .HSCIE  dipped  2.3%, while the IT sector  .HSCIIT  dipped
0.03%, the financial sector  .HSNF  ended 0.13% higher and the
property sector rose 2.07%.
        
  

    ** Concerns over weakening oil demand dragged China-
 .CSIEN  and Hong Kong-listed energy stocks lower. Hong Kong's
Hang Seng Mainland Oil & Gas Index  HSMOGI  dropped more than 3%
to suffer the most significant losses, with China Petroleum &
Chemical Corp  0386.HK  falling 6%.
    
** Around the region, MSCI's Asia ex-Japan stock index
 .MIAPJ0000PUS  was firmer by 0.37%, while Japan's Nikkei index
 .N225  closed  down 1.05%.

 (Reporting by Summer Zhen; Editing by Sherry Jacob-Phillips and
Gareth Jones)
 ((summer.zhen@thomsonreuters.com; 852-3462-7739;))